Bloomberg News

Weatherford Reports Quarterly Sales Missing Estimates

November 12, 2012

Weatherford International Ltd. (WFT:US), the world’s fourth-largest oilfield-services provider, reported quarterly sales that missed analysts’ estimates.

Third-quarter revenue of $3.82 billion was less than the $3.9 billion average of 24 estimates compiled by Bloomberg. The Geneva-based company reported pretax net income of $191 million, a decline from the restated profit of $270 million a year earlier, according to a statement today.

The company reports results on a pretax basis after finding “material weakness” in its accounting of income taxes.

To contact the reporter on this story: David Wethe in Houston at

To contact the editor responsible for this story: Tina Davis at

We Almost Lost the Nasdaq

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • WFT
    (Weatherford International PLC)
    • $23.22 USD
    • 0.11
    • 0.47%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus